ACE is now around 0.147u. This week’s rally has been intense—it’s more than doubled from the bottom, and in the last 24 hours it’s still up by more than 30%.
But the issue is that this move is mainly driven by futures. Open interest jumped nearly 30% in a day, the funding rate is still negative, and the basis is also being squeezed—this suggests leverage money is lifting the price, not real spot capital flowing in.
On the spot side, there’s been a noticeable net outflow over the past 3 hours. Even though big orders have shown some activity, overall the bids/absorption are just average.
There’s another signal I need to watch: the large holders’ long/short ratio has been trending downward, and their positioning is also decreasing. After the price pushed up to 0.164 and then pulled back to where it is now, short-term momentum is still there—but it’s already hugging the upper band. Volatility has been pushed to very high levels, and most of what KOLs are saying is essentially “rally up and then dump.”
In plain terms, the rise is real, but the value at this point isn’t great. Chasing longs here means you’re entering a spot where leverage is dense, the funding is somewhat bearish, and spot hasn’t followed through. If there’s a pullback, it will be uncomfortable.
I’d rather wait for spot funds to re-enter, or consider it only if a pullback can hold and stabilize.
For now, I’m just watching and waiting for direction—no chasing, and not in a rush to short.
#ace $ACE
But the issue is that this move is mainly driven by futures. Open interest jumped nearly 30% in a day, the funding rate is still negative, and the basis is also being squeezed—this suggests leverage money is lifting the price, not real spot capital flowing in.
On the spot side, there’s been a noticeable net outflow over the past 3 hours. Even though big orders have shown some activity, overall the bids/absorption are just average.
There’s another signal I need to watch: the large holders’ long/short ratio has been trending downward, and their positioning is also decreasing. After the price pushed up to 0.164 and then pulled back to where it is now, short-term momentum is still there—but it’s already hugging the upper band. Volatility has been pushed to very high levels, and most of what KOLs are saying is essentially “rally up and then dump.”
In plain terms, the rise is real, but the value at this point isn’t great. Chasing longs here means you’re entering a spot where leverage is dense, the funding is somewhat bearish, and spot hasn’t followed through. If there’s a pullback, it will be uncomfortable.
I’d rather wait for spot funds to re-enter, or consider it only if a pullback can hold and stabilize.
For now, I’m just watching and waiting for direction—no chasing, and not in a rush to short.
#ace $ACE